Benchstone Capital Management LP Buys New Stake in Airbnb, Inc. $ABNB

Benchstone Capital Management LP purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 184,834 shares of the company’s stock, valued at approximately $24,461,000. Airbnb comprises approximately 2.2% of Benchstone Capital Management LP’s portfolio, making the stock its 25th largest holding.

Other hedge funds also recently made changes to their positions in the company. Kentucky Trust Co acquired a new stake in shares of Airbnb during the second quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company’s stock worth $26,000 after buying an additional 83 shares during the last quarter. Concord Wealth Partners acquired a new position in Airbnb during the second quarter worth approximately $28,000. Whipplewood Advisors LLC lifted its stake in Airbnb by 235.3% in the second quarter. Whipplewood Advisors LLC now owns 228 shares of the company’s stock valued at $30,000 after buying an additional 160 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Airbnb by 363.6% in the second quarter. Armstrong Advisory Group Inc. now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Stock Up 0.3%

Shares of NASDAQ:ABNB opened at $128.39 on Friday. The company has a market cap of $79.03 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 2.25 and a beta of 1.11. The firm’s 50-day simple moving average is $121.99 and its 200-day simple moving average is $127.42. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.10). Airbnb had a net margin of 22.03% and a return on equity of 32.14%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $2.13 EPS. Airbnb’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that Airbnb, Inc. will post 4.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Airbnb in a report on Wednesday, October 8th. BNP Paribas started coverage on shares of Airbnb in a research note on Monday, November 24th. They issued a “hold” rating on the stock. UBS Group lifted their price objective on shares of Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. KeyCorp began coverage on shares of Airbnb in a research note on Thursday, October 23rd. They set a “sector weight” rating for the company. Finally, BNP Paribas Exane initiated coverage on Airbnb in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.88.

Insider Buying and Selling

In other Airbnb news, insider Nathan Blecharczyk sold 141,063 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $121.96, for a total value of $17,204,043.48. Following the completion of the transaction, the insider owned 11,520 shares in the company, valued at approximately $1,404,979.20. This represents a 92.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $120.76, for a total transaction of $28,499,360.00. Following the sale, the director owned 1,176,015 shares in the company, valued at $142,015,571.40. The trade was a 16.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,847,828 shares of company stock valued at $224,091,067. Company insiders own 27.91% of the company’s stock.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.